With Steve Jobs on an indefinite medical leave from Apple, COO Tim Cook is overseeing the day-to-day operations of the company. On Tuesday, Cook opened up on a number of topics -- Android, the supply and demand of iPads and iPhones, and much more -- with analysts following the release of a record quarterly earnings report. His answers will be parsed by bloggers and stockholders alike as they try to determine the direction Apple will take in the coming weeks and months.
Well, you know, that's all part of the magic of Apple. And I don't want to let anybody know our magic, because I don't want anybody copying it. What I would tell you is that in my view, Apple is doing its best work ever. That we are all very happy with product pipeline, and the team here has an unparalleled breadth and depth of talent and a culture of innovation that Steve has driven in the company, and excellence has become a habit. And so we feel very, very confident about the future of the company.
I would also note, for those people who haven't thought about it, we've done outstanding in our Mac business. We've had 19 quarters straight of growing faster than the market. But we still have a relatively low share of a very large PC market, despite having great momentum there. And so it would seem like there is enormous opportunity still there.
We have relatively low share in the handset market. The handset market is well over a billion units a year, and the smartphone market is growing faster than a weed. And so there's enormous opportunity here, and we have incredible momentum in that space.
iPad just got started, it's a new category, we sold almost 15 million through the first three quarters, and we believe the market is huge. IDC, I saw this morning, is predicting it to quadruple in two years. I don't know what to predict in terms of specific numbers. However, we believe it's a huge market, as we've said before. And so we're in some great markets, some fast-moving markets, we have the best products we've ever done, and an incredible product pipeline. We feel very, very confident.
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